Turkey President Erdogan: No economic basis for exchange rate developments

Turkish President Tayyip Erdogan is speaking in Ankara and was noted saying that there is no economic basis behind the recent exchange rate developments.

Key quotes:

   •  Turkey is under siege in the economy and other areas.
   •  Attacks on Turkey are expected to continue.
   •  US trade actions are against WTO principles.
   •  The US is attempting to stab Turkey in the back.
   •  Turkey's economic fundamentals are sound, are in place.
   •  Says that lira would settle at a rational level soon.
   •  No retreat from the free market economy.